The cumulative value of the crypto fell 9% in May. Many altcoins suffered even greater losses. The rise that started in January brought a 4-month higher peak, with May being the exception. The sale, which began on May 1, caused Bitcoin to fall below $27,000 today. But whales are not so pessimistic.
AGIX Coin Futures
SingularityNET (AGIX) has gained support from cryptocurrency investors this year with excitement over its artificial intelligence chatbot GPT. While most AI tokens that are rising in January 2023 appear to be falling, AGIX on the Binance exchange does not seem to be weakening much.
Whales holding 1-10 million AGIX coins continued to buy between May 11-25. Purchases during this period exceeded 7 million. At current prices, the roughly $1.82 million in purchases likely reflects whales’ expectations for the future of AGIX Coin at a time when the market is falling.
MATIC Coin Whale
The popular altcoin had a tough time in May, but shed a strong stance in the second half of last year. Still, the popular altcoin is up about 7 percent since hitting a bottom of $0.83 on May 11. Whale groups with balances between 1 million and 100 million MATIC collected 11.4 million MATIC between May 16 and 25.
If strong demand from whales continues, this trend could pave the way for more serious price increases.
The Future of Rendering (RNDR) Coins
Earlier this year, the team launched a strategy to increase the value of the token (we announced it at the last minute). Since then, the RNDR token price has risen significantly. Whales collected 5.9 million tokens between May 17 and 25, despite the market’s drop in May, despite the potential for success of the effort.
Interest earned on RNDR Coin remains strong despite weak market liquidity and a yearly gain of 575%.
What is notable about these three altcoins is the interest shown when the cash in the market dries up. Whales may be accumulating altcoins that they expect to rise in price in the medium term. The risk of the macro environment, the issue of encryption, so they don’t care much.
But it should not be forgotten that whales can also use wrong strategies. It is in the investor’s interest to conduct research and make their own decisions based on their own risk profile.
Information source: compiled from COIN-TURK by 0x information.Copyright belongs to the author Fatih Uçar, without permission, may not be reproduced